An uneventful week in the Middle East Gulf has seen rates for 270,000 tonnes to China hovering around WS 36/37. A run to Daesan went at WS 34.5, while a trip to Mailiao went at WS 35.5. Going west, 280,000 tonnes cape/cape to US Gulf held at WS 16.5. Options cargoes paid around two points more. West Africa to China was steady at WS 38. GS Caltex fixed an EC Mexico to Yosu run at $4.2 million.
An active VLCC market in West Africa, combined with a lighter Suezmax program, saw rates for 130,000 tonnes to Europe lose 12.5 points. Total covered an options cargo at WS 62.5, in Europe, and, subsequently, Monroe paid WS 57.5 to UKC-Med, with USG at WS 54.5. West Africa/South Africa went at WS 65, before BP took ‘Nordic Apollo’ at WS 59.5. Black Sea rates felt the chilly winds, easing five points to WS 72.5 for 135,000 tonnes to the Mediterranean.
A Black Sea/Jamnagar run went at $1.75 million while Libya/Singapore was fixed at $1.7 million, and Algeria to Australia went at $2.65 million. Closer to home, Repsol fixed 130,000 tonnes from Zawia to UKC-Med at WS 70-75 respectively.
An uneventful week in the 80,000 tonnes cross-Med market saw rates maintained in the low WS 90s, with Black Sea trade at similar levels. Status quo was maintained in The North, with the Baltic steady at WS 85 for 100,000 tonnes. The 80,000 tonnes cross North Sea market eased five points to WS 95. Finally, the 70,000 tonnes Caribbean/upcoast market has been hovering between WS 85/90.
It was a steady week, with rates for 55,000 tonnes from ARA or Skikda to US Gulf hovering at or close to WS 102.5/105 respectively.
The LR2 market has come under pressure, and rates for 75,000 tonnes from the Middle East Gulf to Japan have eased modestly from WS 117.5 to around the WS 110 level. LR1s have been steady at WS112.5/115, basis 55,000 tonnes cargo.
In the 37,000 tonnes Cont/USAC trade, plenty of early tonnage saw rates soften marginally to WS 120/122.5, before nudging back to close to WS 127.5. The 38,000 tonnes backhaul trade from US Gulf/UKCont lost a further 27.5 points, to WS 85.
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